Schaeffer's Trading Floor Blog

Good Morning

by 6/9/2005 7:45 AM
Stocks quoted in this article:

We follow yesterday's lackluster action with a quiet pre-open futures picture. With just under two hours until the opening bell, the S&Ps are trading flat against fair value. Gold is down 1.10 to 425.50. Oil is up 38 cents to 52.92.

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Final Figures

by 6/8/2005 4:50 PM
Stocks quoted in this article:

Similar to what we saw yesterday...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1194.7 -2.6 points -0.22 percent
Dow Jones Industrial Average (DJIA) 10476.9 -6 points -0.1 percent
Nasdaq Composite (COMP) 2060.2 -7.0 points -0.34 percent
Russell 2000 (RUT) 620.5 -3.3 points -0.53 percent
CBOE Market Volatility Index (VXO) 12.41 0.71 points 6.1 percent

We end the day on a flat to slightly down note as morning strength faded into the day...

Overall we see a negative bias on the day. Semis, networkers, brokers and some of the oil related groups held small gains but most groups were flat to lower. Outside of oil, housing stocks were the biggest decliners as the HGX pulls back from yesterday's new annual high.

Earlier today I discussed the ugly SPX chart and a few of you wrote in to share your frustration. If you find yourself uncomfortable with the market, the best advice I have is not force it. Some of my worst decisions were made when I felt like I needed to do something (anything!).

For now I am off to run some screens to find some stocks to discuss tomorrow...

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Into the Close

by 6/8/2005 4:22 PM
Stocks quoted in this article:

The action into the close was...well...lackluster.


Chart Courtesy of Thomson/ILX

The SPX dropped below breakeven earlier in the afternoon and then just meandered sideways into the close....


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Chart Chatter - HHH

by 6/8/2005 3:50 PM
Stocks quoted in this article:

The action in the Internet HOLDRS (HHH) prompted me to revisit the chart below that I discussed three weeks ago...


Created with SuperCharts by Omega Research

The HHH has been making its way toward that resistance zone after breaking through the 20-week moving average. What is interesting is that this is the first week where we have a lower low versus the previous week since the group bottomed in April...

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Stocks quoted in this article:

Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • Semiconductor HOLDRS (SMH) = +0.93 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = +0.75 percent
  • iShares DJ US Real Estate (IYR) = +0.71 percent
  • iShares GS Semiconductor (IGW) = +0.66 percent
  • iShares C&S Realty Majors (ICF) = +0.55 percent
  • Oil Service HOLDRS (OIH) = +0.33 percent
  • Regional Bank HOLDRS (RKH) = +0.33 percent
  • iShares DJ US Financial Svcs (IYG) = +0.21 percent

Bottom Performing Sector Exchange Traded Funds:

  • Retail HOLDRS (RTH) = -0.70 percent
  • Biotech HOLDRS (BBH) = -0.72 percent
  • iShares DJ US Healthcare (IYH) = -0.72 percent
  • iShares Russell 2000 Index (IWM) = -0.75 percent
  • Health Care Select Sect SPDR (XLV) = -0.80 percent
  • Pharmaceutical HOLDRS (PPH) = -0.85 percent
  • Internet HOLDRS (HHH) = -1.77 percent
  • iShares DJ Transportation Average (IYT) = -2.31 percent

For the most part we see a quiet picture as only transports and internet are moving more than one percent...

Note: If you are not familiar with ETFs, make sure you read the Education and FAQ sections in our ETF center.


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